Results 6,201-6,220 of 16,492 for speaker:Ciarán Lynch

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Ciarán Lynch: Alright. Okay. Thank you very much. Deputy Doherty. Oh, sorry, Deputy O'Donnell.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Ciarán Lynch: Okay, Deputy. Thank you very much. I just want to ... just before I bring in the two leads to wrap up, Mr. Davitt, just to kind of deal with the conflict of interest issue, in maybe a different sphere. And one of the purposes of the inquiry here is looking at best practice going into the future - and looking at practice in the past - but also to look at the nexus of relationships. And in...

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Ciarán Lynch: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Ciarán Lynch: Okay. And they do, because I've been a member of council - in the chamber - and people would disclose that they would have a relationship and so forth. But this is nothing that the IPAV ... are you saying today, haven't a code of conduct about or don't give any recommendations as to members who might be in that space?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Ciarán Lynch: Okay. The purpose of this is to establish a material relationship between a development that might be going through a local authority, and a member inside in the chamber, it doesn't necessarily have to be an estate agent or an auctioneer, it could be a builder, it could be a ... supplier, anything at all, whatsoever, it could be an electrician. However, in the situation where a person...

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Ciarán Lynch: -----would you see a potential conflict of interest there?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Ciarán Lynch: Sure.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Ciarán Lynch: Okay. Right, thank you. We'll now wrap up. Deputy Doherty, one supplementary, and then Deputy John Paul Phelan, one supplementary. Deputy Doherty?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Ciarán Lynch: Thank you, Deputy. Mr. Davitt, and then I'll move on to Deputy Phelan.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Ciarán Lynch: Okay, thank you. Deputy Phelan.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Ciarán Lynch: Okay. Thank you very much. Okay, with that said I'm going to bring matters to a conclusion. Mr. Davitt, is there anything further you'd like to add this morning before we close?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Ciarán Lynch: Okay. In that regard I would also like to thank you, Mr. Davitt, for your participation here today, and for your engagement with the inquiry. And now to just formally excuse you, and in doing so, I also propose that we suspend until 3 p.m. where we will resume with Mr. Pat Cullen, managing partner, Deloitte Ireland, and Mr. Gerry Fitzpatrick, partner head of audit, Deloitte Ireland. Is...

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Ciarán Lynch: Alright, if both of you are ready and if committee members are ready, I'm going to go back into public session. So I now propose that the committee return into public session, is that agreed? We now commence this afternoon's proceedings with a public hearing with Mr. Pat Cullen, managing partner of Deloitte Ireland, and Mr. Gerry Fitzpatrick, partner head of audit, Deloitte Ireland. ...

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Ciarán Lynch: I now invite members to give their questioning. The two leads ... they are Deputy McGrath and Senator O'Keeffe. Deputy McGrath, you've 25 minutes. Oh, sorry, my apologies, I need an opening statement. I'm jumping ahead. My apologies, Mr. Cullen, Mr. Fitzpatrick. If I can invite you to make your opening comments, please.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Ciarán Lynch: Mr. Fitzpatrick.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Ciarán Lynch: Thank you very much. If I can now invite Deputy McGrath. Deputy, you have 25 minutes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Ciarán Lynch: Just because it's an important issue it might be important to explain what IAS 39 actually was and you can correct it here that, ''This was a standard that outlines the requirements for the recognition and measurement of financial assets, financial liabilities and some contracts to buy or sell non-financial items and the standard outlines how a provision for bad debts should be calculated...

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Ciarán Lynch: Thank you very much. Senator O'Keeffe.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Ciarán Lynch: 12 minutes coming up there.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

Ciarán Lynch: I will just bring in Senator D'Arcy before we go to the break. I just want to tidy up one matter in IAS 39. In earlier testimony that we had, in the Context Phase of this and in other documentation, one of the critiques or challenges that arises from that was the supposed backward looking nature of IAS 39 in that it required evidence of a loss before the loss is actually written down, that...